Samsung SDI Co., Ltd. is trading 5.4% down at $574,000 today after LS Securities lowered its target price for the company, citing concerns about the company's performance and market position.
- Target Price Cut: LS Securities reduced its target price for Samsung SDI to 531,000 won from 593,000 won, maintaining a "Hold" rating.
- Stagnating EV Sales: The securities firm noted that Samsung SDI's EV battery sales for January-April were down 33% year-over-year, with its market share among the top 12 sellers falling from 3.1% to 2.0%.
- Intensifying Competition: Concerns were also raised about increased competition from Chinese manufacturers in the prismatic battery market and in the U.S. energy storage system (ESS) market.